The Bima Suraksha Super Plan by Birla Sun Life Insurance (BSLI) is a simple life insurance plan which offers financial security to your loved ones at a time when you may no longer be around to provide for them. A time of loss is not only stressful but also financially worrying, what with the various kinds of payments which still need to be made for children’s education, loans, etc. With the BSLI Bima Suraksha Super Plan, you can say goodbye to all those worries. This is a regular life insurance plan which requires you to pay regular premiums and in case of your unfortunate demise, your nominees/beneficiaries get the sum assured to help them take care of impending financial expenses. This plan is simple and convenient with no medical tests and minimum documentation. There is also an Accidental Death Rider available with the plan to enhance its coverage.
Following is the eligibility criteria to apply for this plan. The maximum age that a policyholder can be on maturity 65 years.
|Term||Entry Age (Min. & Max.)|
|5 years||18 years to 60 years|
|10 years||18 years to 55 years|
|15 years||18 years to 50 years|
In case of the unfortunate death of the life assured, their nominees will be entitled to receive the sum assured amount. The minimum sum assured payable under this plan is fixed at Rs.5,000 while the maximum sum assured payable is capped at Rs.50,000.
The premium payable for this policy will be decided based on the gender, age, Benefit
period chosen and the Sum Assured amount chosen by the life assured.
Premium Payment Mode
Premium payment for this plan can be done on a yearly, half-yearly, quarterly or monthly basis. Payment can be done in cash or via other methods like credit card, demand draft, ECS, salary deduction, direct debit, etc. Premium payment on the monthly mode can only be done via demand draft or ECS.
Under this plan, the nominee of the life assured policyholder is entitled to receive a Death Benefit (Sum Assured) in case of the unfortunate or sudden demise of the life assured.
In order to enhance the coverage provided by the Bima Suraksha Super Plan, policyholders can also opt for the Accidental Death (AD) Rider. Under this add-on rider, the policyholder gets the option to increase their sum assured amount provided that the base sum assured on the policy is equal to or more than Rs.10,000 in case of death. The sum assured provided under the rider must not be higher than the sum assured provided under the base plan.
|Free Look Period||If policyholders want to cancel their policy, they must do so within the Free Look period of 30 days that is provided by BSSLI. For cancellation, the original policy document must be returned along with the reason for cancellation in writing. If the policyholder has paid any premium towards the policy, the same will be refunded provided that the original policy document and the written request for cancellation has been received by the insurer and no claim has been raised on the policy.|
|Grace Period||Policyholders will be allowed a grace period of 180 days from the date of first outstanding premium payment. The policy will provide full cover during the grace period. In case there is a claim made on the policy, the amount of outstanding premiums will be deducted from the sum assured before it is paid.|
|Policy Lapse||If policyholder fails to pay the outstanding premiums till the expiry of the grace period, the policy shall lapse and all benefits/coverage provided by the policy will cease instantly.|
|Revival||A lapsed policy can be restored or reinstated to full effect on the payment of all outstanding premiums (from date of first outstanding premium), along with an interest at the rate of 1%/month on all outstanding premiums. The policyholder must also provide a new declaration of good health and insurability that is accepted by the insurer.|
|Nomination||Before the maturity of the policy, the life insured policyholder can nominate one or more persons who will receive the benefit that is payable under the Death Benefit. The life assured can also appoint a person (of majority age), who can collect the death benefit amount on the behalf of the nominee, if the latter is a minor.|
On the purchase of the BSLI Bima Suraksha Super Plan, policyholders are eligible for tax benefits under the provision of Section 80C and 10 (10D) of Income Tax Act, 1961.
Founded in the year 2000, Birla Sun Life Insurance Company Limited or BSLI is a partnership between the major Indian conglomerate, Aditya Birla Group and the Canada-based leading financial services company called Sun Life Financial Inc. Ever since its inception, Birla Sun Life has risen rapidly and is now one of the market leaders in the insurance segment, holding over 10 years of valuable experience. Besides achieving rapid growth, the company has also been a key contributor to the insurance segment in India and offers one of the best customer service in the industry. Birla Sun Life currently caters to a customer base of over 2 million people and offers competitive insurance policies for individuals and groups. Their product suite includes various types of plans like savings & investment plans, health plans, retirement plans, future plans, protection plans, children’s future plans and wealth plans.
*Premiums Vary Based On Age, Location, Plan Term And Other Factors